Thursday, July 14, 2022

The price of oil is determined on the world market mostly by speculators and they see a slow down in the economy coming, possibly a recession, so they are bidding the price down expecting a decrease in demand. The administration has them in a quandary. Biden tells them to increase production now but in a few years he wants them out of business. Two years ago Biden said, “We are going to get rid of fossil fuels.” This statement was made with the idea that he would replace fossil fuels with wind and solar. This was part of the new green deal that would include a lot of social spending and redistribution of wealth. No scientist came forth to say this could not be done so the press just went along with the idea. Here is Secretary Grandholm in June of 2021. Preserving the existing fleet of nuclear plants, driving the development of advanced reactors and investing in nuclear R&D are all essential to the USA's clean energy transition, Jennifer Granholm, secretary of the US Department of Energy (DOE), stressed this week. Speaking at the annual general meeting of the American Nuclear Society, Granholm told nuclear industry workers and students watching the webinar: "We need you". This is the only way, she said, that the USA will meet its targets of a 52% reduction in CO2 emissions by the end of 2030, 100% clean energy by 2035 and a net-zero economy by 2050. This understanding of the how to solve the problem of climate change seemed to be clear in her head but nothing happened. Why?

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